This metric suggests bitcoin's late November plunge was the bottom and major upside lies ahead

Extreme readings in the ratio between short-term holder supply in profit and short-term holder supply in loss have aligned with the end of bear markets. What to know : The short-term holder profit-to-loss ratio fell to 0.013 on Nov. 24, just days after bitcoin plunged to about the $80,000 level. That reading has historically aligned with major and local bitcoin market bottoms. The ratio has since recovered to around 0.5, indicating growing profitability among short-term holders.